Spend more or lose out?

Discussion in 'The Buying & Selling Process' started by Wonderland, 2nd May, 2021.

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  1. MB18

    MB18 Well-Known Member

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    25th Sep, 2018
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    Location:
    NT
    It seems pretty straightforward to me...

    If your budget it determined by what you think its worth then it probably doesn't matter if you over pay for your forever home as there is more to the purchase than than mere finances.

    If your budget it limited by what you can reasonably afford, then stick to the budget and save yourself bigger problems than simply having to rent.
     
  2. Shazz@

    Shazz@ Well-Known Member

    Joined:
    24th Jun, 2018
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    Location:
    NSW
    IMHO, you don’t know what the house is worth until the house goes under the hammer. The only thing you do know is what the house is worth to you and what you are willing to pay for it.

    Yes, set the value to what YOU are willing to pay for the house, not what you think it’s worth. The rules go out the window when it comes to buying a PPOR compared to buying an IP. As others have mentioned, you have to weigh up the cost of missing out.
     
    chrissyroc likes this.